One of my friends suggested Irene Adler as the FeMC's persona, which would work somewhat well as an Arsene replacement (given how she's also socially trangressive, steals from/manipulates those in power, and is a rival of Sherlock Holmes). She's not perfect, but I dunno if there is a better option if they wanted to do something more then just recolouring Arsene.
Thanks for sharing that! I liked a lot of his points, though the few basic factual inaccuracies (calling the P3 FeMC a "simple reskin" and discussing "Hashino and the team" when Hashino has left P-Team) definitely irked me...
I am slightly curious what they would/wouldn't change with regards to confidants though... The fact that confidants give you abilities related to the confidant would make them harder to replace then the social links of P3.
The Tower, Star, and Sun Confidants could probably be given all-new characters with not much difficulty (given how they'd only need to be good shots, good strategists, and good speakers, respectively), but I dunno about the rest... If you wrote new characters who have the same or similar jobs, then I suppose Fortune, Temperance, and Devil could also be replaced too. Maybe also Hanged Man and Death, but at that point it would feel a lot more like an AU then a second perspective on the same world, unless you had a new area to put alternate shops in.
Also, I feel like they'd keep Caroline and Justine? They're just more tied to the plot of P5 then Elizabeth was in P3, so I don't know if they'd just give you an equivalent male duo.